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The Department of Manpower (MOM) has shown that total employment in Singapore has increased even as unemployment rates have risen slightly in its latest labor market report [19659002] before the second quarter of 2018 . According to the report, this occurred as more and more people entered the labor market to look for work because of the continued expansion of economic activities. In the second quarter of 2018, the cuts were less than the same period a year ago, but higher than in the previous quarter
In summary, the report presented the following key findings:
L & # 3939; total employment in the second quarter of 2018 grew faster than in the previous quarter. 19659006] Total employment (excluding foreign domestic workers) increased by 7,100 in 2Q 2018. This is a larger increase than in the 1st quarter 2018 (400), reflecting slowing contractions in employment in construction and manufacturing.
The quarter also ended in a reversal from the contraction observed in the same period a year ago (-7,900). The service sector has continued to add workers, particularly in the transportation and storage, information and communications, community, social and personal services, professional and financial services and transportation sectors. Insurance
<img class = "alignnone size-full wp-image-106540" src = "http://images.humanresourcesonline.net.s3.amazonaws.com/wp-content/uploads/2018/07 In addition, seasonally adjusted unemployment rates increased overall (from 2.0% in March 2018 to 2.1% in June 2018), for residents (2.8%). at 3.0%) and for citizens (from 3.0% to 3.1%) – after a general downward trend since June 2017. However, the rates in June 2018 have remained lower than in June 2017.
Layoffs increased slightly compared with the first quarter of 2018
The number of layoffs in the second quarter of 2018 ( 2,500) increased slightly over the previous quarter (2,320), reflecting the ongoing restructuring and reorganization. This has occurred after a downward trend since the fourth quarter of 2016.
The release stated: "The number of redundant workers in 2Q 2018 was lower than the same period a year ago (3,640 ). MOM_retrenchment2 ” width=”630″ height=”358″/>
In conclusion, MOM reported that the labor market continued to grow with net growth in total employment, while unemployment and layoffs in the construction sector increased. The second quarter of 2018 remained below the same period a year ago. However, the unemployment rate increased from March 2018, which had the lowest unemployment rate since March 2017. Staff cuts could also increase as restructuring and reorganization accelerate
. Agile and sensitive to new technological trends, economic restructuring and the evolution of the workforce.
"MOM and Workforce Singapore continue to help job seekers achieve better results through the initiative Adapt and Grow [19659003] to transform and develop through the Lean Enterprise Development Scheme and the Capability Transfer Program, " it was concluded.
Photo Lead / Ministry of the Main -d
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